A life insurance policy is so much more than just life cover.
It’s protection for you and your family, its financial peace of mind for your family and or your businesses future, its cover for a guaranteed income for your children. A well-structured life plan has saved millions of families from financial ruin and hardship.
You need to consider the additional cover that a life plan offers, such as protecting your salary over the short term for if you get injured or are off sick for a short period. Then there’s the cover provided for a more permanent injury or disability.
But possibly the most misunderstood cover is severe illness cover, for all the various types of cancer, heart, kidney and other severe illnesses. This is the most often claimed type of cover. Now while your medical aid plan will look after you in hospital, it’s your critical illness cover that will see you through the ordeal afterwards.
If you already have a life plan – good – but as with any planning have an advisor go over your updated needs and ensure you are paying the correct premium for the most appropriate cover.
HEALTH WARNING
– If you have ever purchased a life plan over the phone –
There’s a 99% chance you received absolutely no advice or any form of financial needs analysis.
This is wrong – get advice and make sure that your cover and needs are matched via a comprehensive face to face, fact finding process.
Life cover bought over the phone IS MORE EXPENSIVE … and in more ways than one, not only has research found that the premium is more expensive for the cover granted, but the benefits are not researched or matched to your needs.
